How Do I Analyze Gold Price Retrace on Charts?
How Do I Read Price Retrace on Charts?
The price of a gold instrument does not move upward or downward in a straight line. Instead the price of a gold moves up or down in a zigzag pattern called a trend.
Upward trendprice retrace - the price moves upward in a trend then it retraces before it resumes the up-wards trend direction
Downwards trendprice retrace - the price moves downward in trend direction and then retraces before resuming the downward trend direction.
What Does Gold Retrace Mean? A price retrace is a pullback of the price before the market resumes original trend movement.
Price Retrace Meaning & Retrace Explained - Example of a Gold Price Retrace Pattern
How Do I Analyze Gold Price Retrace on Charts?
Explanation of Retrace Pattern
1-2: Price Moves Up - Trend Direction
2-3: Price Retrace
3-4: Price Moves Up - Trend Direction
4-5: Price Retrace
5-6: Price Moves Up - Trend Direction
The retrace definition of price is illustrated on the example - this represents a gold retrace move in an upward trend.
How Do You Interpret Gold Price Retrace on Charts?
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